Home Buying in Las Vegas>Question Details

Tom, Home Buyer in Phoenix, AZ

why so many foreclosure are in las vegas ?

Asked by Tom, Phoenix, AZ Fri Aug 16, 2013

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9
Tom,

We really don't have that many foreclosures currently on the market. We did have a large number in the past, and yes, we will have foreclosures in the future. I know in July 2013, there were over 1300 new foreclosure filings. In June, about the same. May had over 2700 filings. We are experiencing filings still and these homes will work their way onto the market sooner or later either as REO properties or by being listed and sold.

Thank you,

Jeffrey Sklar
Broker/Owner/Realtor
Desert Valley Realty
10161 Park Run Drive #150
Las Vegas, NV 89145
702-408-6470 mobile
702-763-SELL (7355) office
888-203-2779 fax
Jeff@DesertValleyRealtyLV.com
Be sure to tune into 720AM every Saturday at 6pm to hear me host "The Real Estate Show!"
0 votes Thank Flag Link Sun Aug 25, 2013
With 30% appreciation in 1 year thru July 2013, I don't think there are that many foreclosures that the market can't handle.

David Cooper Helping You Get Wholesale Deals since 1994
READ MORE http://www.lasvegaswinner.org
0 votes Thank Flag Link Wed Aug 21, 2013
Well to answer the question on foreclosures in Las Vegas. There are many foreclosures all over the country. It is just the state of the economy. When things were booming in Vegas....there was a lot of Creative Financing going on and that is some not all of the reasons for so many foreclosures. There is no one size fits all answer to that question. I could give you many reasons and talk on this subject all day. The important thing is that this problem needs to be fixed.

There are many programs out there to assist homeowners to try and reduce the rate of foreclosures, but it is a process. It has taken many years and to get to where we are now in those assistance programs. Many homeowners have lost their homes along the way because there was little clarity on homeowners rights and with lenders having the right people working for them that actually know what they are doing. That and the policies they had in working (or in many cases not working) with homeowners. The market here now has been changing. As the value of the homes increases, the opportunity for homeowners to sell their homes increases.
If you have more questions, I would be happy to answer them to the best of my ability and if I don't have an answer, I will find someone who does.

Buy the way, homeowners who short sold their homes now can purchase a FHA home one year out?

If you are in the market to sell or buy...give me a call. I would be happy to assist you.

Theresa Osburn
Sellstate Neighborhood Realty
9089 S. Pecos Road Ste. 3400
Henderson, NV 89074
702-218-6936
0 votes Thank Flag Link Wed Aug 21, 2013
TOM! You got really bad info if you believe there are so many Las Vegas Foreclosures. Check the blog post where Las Vegas Median Home prices UP +31.2% July 2013. This is #1 in the US, and beats phoenix by 18%.


David Cooper Helping You Find Bank-Owned Foreclosures at Drastic Discounts since 1994
READ MORE http://www.lasvegaswinner.org
CALL 1-888-616-6226
0 votes Thank Flag Link Sat Aug 17, 2013
We get a bump every year as we approach fall. Inventory will increase linearly until about March and then the madness starts over....
0 votes Thank Flag Link Sat Aug 17, 2013
Jimmy,
5715 is a big jump from 3000 available listings just a few months back. Inventory in Vegas is definitely on the rise. Perhaps the ridiculous bidding wars will soften now as well.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
Visit my website: http://www.LVrealestateHELP.com
CONNECT with me on LinkedIn: http://www.linkedin.com/pub/robert-adams/2a/971/a93/
LIKE me on FaceBook: https://www.facebook.com/pages/The-Adams-Team-at-Rothwell-Go…
FOLLOW me on Twitter: https://twitter.com/ShortSalePros
0 votes Thank Flag Link Sat Aug 17, 2013
Hi Tom

I don't know were you got information but
is not accurate. There are 5715 homes available
as of this morning and 315 of them are foreclosures.
The Las Vegas market is over 85% traditional sales.


If I can be of further assistance and answer
Any of your other questions please contact me

Thanks
Jimmy Balsano
Realty One Group
702-281-2225
Fax 1-866-371-8421
Email: jimbalsano@gmail.com
CERTIFIED FOORECLOSURE ALTERNATIVES CONSULTANT (CFAC)
REO-BPO CERTIFIED

I KNOW LAS VEGAS AND HAVE FOR OVER 40 YEARS
http://www.jimmybalsano.com
http://www.salestraq.com/las_vegas/newhomesearch/index.cfm?id=4780(New Homes
0 votes Thank Flag Link Sat Aug 17, 2013
The current market in Vegas is mainly made up of traditional sales now. There is a small percentage of short sales and a small percentage of foreclosures but right now I believe over 80% of the available listings are traditional sales. If you would like to discuss the market further please contact me directly below.

I look forward to hearing from you!

Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
F:702-932-8826
RobertAdams@LVrealestateHELP.com
Visit my website: http://www.LVrealestateHELP.com
CONNECT with me on LinkedIn: http://www.linkedin.com/pub/robert-adams/2a/971/a93/
LIKE me on FaceBook: https://www.facebook.com/pages/The-Adams-Team-at-Rothwell-Go…
FOLLOW me on Twitter: https://twitter.com/ShortSalePros
0 votes Thank Flag Link Fri Aug 16, 2013
There were 10 times as many 3 years go. Foreclosures are nearly down to zero now so I'm not sure where you are getting your information from. Here are all the recent and old news clips: http://ifindproperties.com/real-estate-news.html
0 votes Thank Flag Link Fri Aug 16, 2013
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